Karachi October 5 2022: Siemens directors have, in the best interest of the Company, decided to sell off the ERP value added reselling solution and service business, being non-core business of Siemens.
Management states that this business does not meet the definition of either “undertaking” or “sizeable part” of the Company. However, the closure of the transaction is subject to regulatory approvals.
Siemens (Pakistan) Engineering Co.Ltd was incorporated in Pakistan in 1953 as a public limited company. The Company is principally engaged in execution of projects under contracts and in manufacturing, installation and sale of electronic and electrical capital goods.
